As Environmental Uncertainties Increase, Managers Must Develop Techniques and Methods

question 112

Essay

As environmental uncertainties increase, managers must develop techniques and methods for collecting, sorting through, and interpreting information about the environment. Discuss four of these methods, explaining when and why each would be used.

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Definitions:

Shareholders

Individuals or entities that own one or more shares of stock in a corporation, thereby having an interest in the company's performance and governance.

Corporation

A corporation is a legal entity that is separate and distinct from its owners, offering limited liability protection to its shareholders.

Actual Authority

Authority given to an agent expressly or by implication.

Estoppel

An equitable remedy that stops a party from trying to establish a position or deny something that, if allowed, would create an injustice.